Consolidated Statements of Cash Flows (Unaudited) (USD $)	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (5,311,733)	$ (3,366,889)
Adjustments to reconcile net loss to net cash used by operating activities:
Depreciation, depletion, amortization and accretion	1,378,610	1,753,048
Share-based compensation	635,863	1,016,485
Loss (gain) on sale of assets	8,787	(69,062)
Amortization of financing cost	855,684	497,911
Unrealized gain on warrant derivative contracts	(591,439)	(843,340)
Unrealized gain on derivative assets	(659,356)
Interest and legal expense added to principle	1,005,000	557,226
Changes in operating assets and liabilities:
Accounts receivable, trade	(757,792)	422,397
Accounts receivable due from non-operator, net		35,735
Prepaid expenses and other current assets	46,780	(171,589)
Other assets	(975)	(250,000)
Accounts payable and accrued expenses	600,710	(13,064,544)
Accounts payable related party		(650)
Revenue payable	(64,558)	(303,338)
Net cash used by operating activities	(2,854,419)	(13,786,610)
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sale of assets	2,618,025	284,629
Expenditures for oil and gas properties	(7,654,169)	(14,249,455)
Expenditures for property and equipment	(5,961)	(90,663)
Net cash used by investing activities	(5,042,105)	(14,055,489)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of warrant derivative liability		2,000,000
Financing costs paid	(116,555)	(1,407,071)
Payments on notes payable	(11,216)	(14,863,440)
Proceeds from notes payable	25,000,000	46,993,306
Stock options exercised	13,750
Net cash provided by financing activities	24,885,979	32,722,795
NET CHANGE IN CASH	16,989,455	4,880,696
CASH, BEGINNING OF PERIOD	1,009,084	7,885,652
CASH, END OF PERIOD	17,998,539	12,766,348
SUPPLEMENTAL DISCLOSURES FOR CASH FLOW INFORMATION:
Interest	3,751,874	807,951
Income taxes
Non-cash investing and financing activities:
Accrued expenditures for oil and gas properties	4,779,315	439,664
Increase in asset retirement obligation	$ 1,840	$ 11,143